Toread's Q1 profit drops 24%

Toread Holdings Group Co ltd, recently reported financial results for the quarter ended March 31, 2016. Their first quarter profit has dropped by 23.9% to over 71 million yuan. 

However, Toread’s revenue has grown by 33.87% annually to 514 million yuan in Q1 2016.

Toread said in the statement that there are four risks it may face:

Firstly, the overall outdoor sports industry is growing at a slower rate and the competition continues to intensify.

Secondly, the costs of operation and expenses are increasing, which leads to profitability decreasing in the short term.

Thirdly, the outdoor experiential travel services market is not yet mature.

Fourthly, integration of investment projects fall short of expectations.

Toread Holdings Group Co Ltd, formerly Beijing Toread Outdoor Products Co Ltd, is a China-based company principally engaged in research, development, design, outsourcing production and sale of outdoor products.

The Company's major products are outdoor clothing, shoes and equipment including charge clothes, quick-drying clothes, ski jackets, hiking boots, mountaineering shoes, tents, backpacks, sleeping bags, moisture-proof mats, glasses, canteens, alpenstocks, folding products series and outdoor cooking equipment among others.

The Company is also involved in the operation of regular chain stores selling outdoor products. The Company distributes its products in domestic and overseas markets.

source：Toread Holdings Group Co ltd

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